Keeping Your Company Vehicles In Good Condition - Molen Tax & Associates

Stay Ahead of Law Changes & Protect Yourself Against Being Audited: Corporate Transparency Act and Reasonable Compensation

How to Keep Your Company Vehicles in Good Condition

There are numerous benefits that go along with being part of a company. Oftentimes, a major benefit is the use of company vehicles. However, these vehicles are not to be used for pleasure or for a night on the town. These are strictly for professional use only. But there are some cases where an accident happens, or the vehicle is damaged. Here’s how to keep your company vehicles in good condition.

Proper Training

Car accidents can happen at any time and anywhere, but that doesn’t mean you can’t minimize the risk. In order to reduce the risk of an accident, you’ll need to give your employees the proper training. In addition, set guidelines and rules for everyone who plans to use the vehicles.

Maintenance

Before letting employees drive company vehicles, always check to see if the vehicles are up to manufacturer standards. It’s always important to maintain the company vehicles before anyone uses them. Just like an accident can occur at any given moment, malfunctioning can as well. Have a mechanic take a look at the vehicles to make sure everything is working properly. Some key things to look out for is if there is a leak in the gas canister, deflated tires, and if the engine is making an unsettling noise.

Safety Protocols

It’s advised that a lack of safety protocols could cause accidents, so it’s essential that you enforce them. Remember to tell them to drive slowly, have a sufficient amount of energy, do not use any electronics while operating the vehicle and be mindful of the weather. Caution is key to a safe trip. Also, be clear that the company vehicles are for professional use.

Utilize Technology

Finally, a surefire way to always keep the company cars in good condition is incorporating technology. Adding a rear-view camera will make it much easier to see what’s behind the car. If possible, have an automatic emergency brake feature. And just to be on the safe side, install a camera that records the entire venture of the person who was using the vehicle. This is done to make sure they aren’t up to any shenanigans with the company’s car. It’s always important to proceed with caution when letting employees get behind the wheel.

Driving a company car is a privilege that an employee should never abuse. You should be able to trust your employees to take care of the company car, but accidents can still happen. By taking these precautions, though, your company vehicles should always be in good condition.   

Do you need help with filing your taxes for your small business? We can help!

The Molen & Associates Difference

Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

Caitlin Daulong

“Molen & Associates is amazing! They run an incredibly streamlined process, which makes filing taxes a breeze. So impressed with their attention to detail, organization, and swift execution every year. Cannot recommend them enough!”

Sy Sahrai

“I’ve been with Mr. Molen’s company for few years and I felt treated like family respect and dignity. They are caring, professional and honest, which hard to find these days. Love working with them.”

Tax Implications of Inheritance: Understanding Estate Taxes, Inheritance Taxes, and Step-Up in Basis Rules

Inheriting assets can be a complex affair, especially when it comes to understanding the tax implications involved. This article delves into the intricacies of estate taxes, inheritance taxes, and the step-up in basis rules, providing a comprehensive overview for...

Healthcare and Taxes: Navigating Health Savings Accounts (HSAs) and Medical Expense Deductions

Healthcare costs can be a significant financial burden, but tax-advantaged accounts like Health Savings Accounts (HSAs) and deductions for medical expenses can help mitigate these costs. Understanding these benefits can lead to substantial tax savings and financial...

Tax Credits for Families: Navigating the Child Tax Credit and the Child and Dependent Care Credit

Tax credits are essential tools for reducing the tax burden on families, helping to increase disposable income and financial stability. Among these, the Child Tax Credit (CTC) and the Child and Dependent Care Credit (CDCC) are particularly beneficial for parents and...

Retirement Contributions and Taxes: Understanding the Tax Implications of Contributing to IRAs and 401(k)s

When planning for retirement, understanding the tax implications of contributing to retirement accounts such as Individual Retirement Arrangements (IRAs) and 401(k) plans is crucial. These accounts offer valuable tax benefits, which can significantly impact your...

Texas has been declared a Federal Disaster. What does this mean?

With the storm and power outages last week, Texas has been declared a Federal Disaster. What does this mean? When a state is declared a federal disaster area by the President of the United States, it triggers a series of federal assistance measures under the Robert T....

The Strategic Advantage of Cost Segregation in Tax Planning

In the complex landscape of tax planning and asset management, cost segregation stands out as a pivotal strategy for property owners and real estate investors. This article delves into the essence of cost segregation, its benefits, and how it can be effectively...

Charitable Planning: A Strategic Approach to Philanthropy and Tax Benefits

Charitable Planning: A Strategic Approach to Philanthropy and Tax Benefits In the realm of financial planning, charitable planning stands out as a multifaceted strategy that not only furthers philanthropic goals but also offers significant tax advantages. This article...

Maximizing Tax Benefits through Strategic Business Vehicle Usage

Maximizing Tax Benefits through Strategic Business Vehicle Usage In the realm of business operations, the utilization of vehicles plays a pivotal role in ensuring efficiency and effectiveness in service delivery, client engagement, and overall operational logistics....

Understanding the 529 Savings Plan: A Comprehensive Guide

Understanding the 529 Savings Plan: A Comprehensive Guide In the realm of education financing, the 529 Savings Plan stands out as a pivotal tool for families and individuals aiming to manage the rising costs of education. This article delves into the intricacies of...

Tax Scams and Fraud: Navigating the Maze of Tax Scams and Fraud Awareness

Stay Alert: Navigating the Maze of Tax Scams and Fraud Awareness In an era where digital convenience meets sophisticated cyber threats, tax scams have emerged as a significant concern for taxpayers. The Internal Revenue Service (IRS) continuously warns the public...

Request an Appointment Today

1 + 14 =

Call us at

Pin It on Pinterest

Share This